Guideline Value for Sunguwar Agraharam

Sunguwar Agraharam guideline value

The current guideline value of Sunguwar Agraharam is Rs 5,500 per sq.ft, effective from 1 July 2024. This area is located in Muthiyalpet village, under the Sowcarpet SRO, and is classified as Residential Special Type - II.

How the guideline value of Sunguwar Agraharam has changed

Over the years, the guideline value of Sunguwar Agraharam has seen significant changes. The earliest recorded revision in the register is from 2003, where the value was Rs 1,309 per sq.ft. This increased to Rs 1,700 per sq.ft in 2007, marking a rise of 30%. The following revision in 2012 saw a decrease to Rs 5,000 per sq.ft, which was a notable drop of 33%. In 2017, the value rose again to Rs 3,350 per sq.ft, reflecting a 49% increase. The 2023 revision set the value at Rs 5,000 per sq.ft, before the most recent revision in 2024, which raised it to Rs 5,500 per sq.ft, a 10% increase.

The register does not contain a figure for the year 2002 for this street. Overall, from 2003 to 2024, the guideline value has increased by 320%.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO that carry a 2024 guideline value, ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing the 2024 guideline value of Sunguwar Agraharam above this median.

• Sundara Mudali Street: Rs 4,900 per sq.ft (2024)
• Sudaram 5th Lane: Rs 4,400 per sq.ft (2024)
• Sudaram 4th Lane: Rs 4,400 per sq.ft (2024)
• Sudaram 3rd Lane: Rs 4,400 per sq.ft (2024)
• Sudaram 2nd Lane: Rs 4,400 per sq.ft (2024)
• Sudaram 1st Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Sunguwar Agraharam

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sunguwar Agraharam?

The Sub Registrar Office that covers Sunguwar Agraharam is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Muthiyalpet

The guideline value is a crucial factor in the registration process when buying or selling property in Muthiyalpet. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the transaction.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sunguwar Agraharam?

The current guideline value of Sunguwar Agraharam is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,309 per sq.ft in 2003 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 320% over the years.

What are the other streets in Muthiyalpet?

Other streets in Muthiyalpet include Sundara Mudali Street, Sudaram 5th Lane, Sudaram 4th Lane, Sudaram 3rd Lane, Sudaram 2nd Lane, and Sudaram 1st Lane, with guideline values ranging from Rs 4,400 to Rs 4,900 per sq.ft as of 2024.

How is stamp duty calculated in Sunguwar Agraharam?

Stamp duty in Sunguwar Agraharam is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applied.

Where can I find the Sub Registrar Office for Sunguwar Agraharam?

The Sub Registrar Office for Sunguwar Agraharam is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01.